Guaranteed acceptance plans, which do not need you to answer any health questions and are offered by other businesses at comparable pricing, are also available. Suppose you decide to receive a quotation from Lincoln Heritage Life Insurance. In that case, you should evaluate the policy in light of what other insurers provide before making a final decision.

Pros

Includes Price-Shopping Support at No Cost:

Your family will have access to the assistance of a dedicated representative from the Funeral Consumer Guardian Society (FCGS) when you purchase insurance from Lincoln Heritage. This person will assist in locating the most affordable pricing for funeral services. Beneficiaries of the FCGS program save an average of $1,850 on the cost of standard funeral arrangements.

No Medical Exam Required:

To get coverage, you need to answer just one page's worth of health questions, and most individuals are approved.

Approved Claims Paid Within 24 Hours:

Your beneficiaries will not be required to apply for reimbursement to collect the death benefit within one day of its approval.

Cons

There May Be a Waiting Period:

Lincoln Heritage states that certain applicants with health difficulties may only qualify for a modified plan, which normally comes with a waiting period of two or three years, depending on your age. You should contact the company immediately if you are one of these candidates. If you pass away while the waiting period is active, your heirs will get the whole amount of premiums paid in addition to a tiny portion of the total death benefit.

No Online Quotes:

You can initiate a quotation online, but to get an accurate estimate, you will need to wait for someone to get in touch with you. Also included in the price estimates is a range of possible monthly payments.

No Online Claims:

Claim filing may only be initiated in one of three ways: via phone, fax, or letter. A higher number of complaints than anticipated with the NAIC: In the last three years, Lincoln Heritage has filed with the NAIC a greater number of complaints than would have been anticipated given the firm's size. This points to problems with the happiness of the consumer.

Complaint Index

Over the last three years, Lincoln Heritage received an alarmingly high number of customer complaints. This index compares the number of complaints received by each business to its overall size. Given the organization's size, an index of 1.00 represents the typical amount of customer grievances received. However, if the index is more than 1, it implies that the firm got more complaints than anticipated.

Ratings from a Third Party

Although Lincoln Heritage receives great grades for its financial stability, other businesses that provide coverage for ultimate expenses do far better. AM Best, an independent credit rating organization focusing on the insurance business, assigned Lincoln Heritage an excellent A- (Excellent) grade for its overall financial soundness.

Final Expense Insurance

A form of life insurance known as last expense insurance offers permanent coverage and a modest death benefit intended to cover the expenses associated with end-of-life care. The insurance coverage remains in effect indefinitely, provided that the required payments are always paid and accumulate a monetary value. Lincoln Heritage provides coverage of up to $20,000 and calculates your premiums according to how you respond to various health-related questions. Even if the insurance provider says that most individuals with health problems will be eligible for coverage, this is not a guaranteed issue policy.

Available Riders

Adding riders to insurance contracts allows policyholders to tailor their protection to suit their particular circumstances better. For instance, some riders provide living benefits, which enable you to collect a portion of the death benefit if you are diagnosed with a pre-existing disease that qualifies for coverage under the policy. The premium payments for certain others might be put on hold. Lincoln Heritage provides one free software in addition to an add-on that is available for purchase.

Benefit Rider in Case of Accidental Death

This rider, which may be purchased as an add-on, offers an extra death benefit of up to one hundred thousand dollars if the reason for your passing is determined to be an accident. Because Lincoln Heritage does not publish qualifying details online, you will need to speak with a representative to get information on the rider's operation and the cost of including it in your policy.

Assistance to Customers

Through your online account, you will be able to manage your policy as well as make payments. On weekdays between the hours of 6 a.m. and 5 p.m. Mountain Standard Time (MST) and Saturdays between the hours of 6 a.m. and 2 p.m. MST, you may get in touch with customer service if you want more help.